Industrials rising streak ahead of Workers Day holiday

Published: 05 May 2014

ZSE's mainstream Industrials continued to advance during April's last trading session on Wednesday as selected blue chips remained in favour ahead of the Workers Day holiday tomorrow.

The Industrials Index gained 1.51 points or 0.88% to 172.91 with gains in heavyweights Delta, Econet and Hippo while OK Zimbabwe traded on the downside.

The Minings Index remained stable at 29.64 as Bindura and Falgold traded unchanged at 1.35c and 3c respectively.

Month on month the Industrials is however 2.05% down on March 31's level of 176.32 while the Minings Index is up 0.44%.

Monthly volumes improved with 429.1 million shares worth $51.35 million trading in April compared with 381.7 million shares worth $28.90 million that trade in March.

There were significant volumes trading in Barclays and Delta in today's session resulting in the daily market turnover rising to $2,253 million on a volume of 10.37 million shares against yesterday's $621 886 on 9.250 million shares.

Blue chip Delta added 3c or 2.68% to 115c while telecoms giant Econet advanced 0.51c orO.83% to62.01c and Hippo closed 0.98% firmer at 61.6c.

Heavyweight retailer OK Zimbabwe dropped 0.10c or 0.50% to 19.9c and conglomerate Inns cor dosed buyers only at 63c.

ZPI led the top risers on the day, adding 0.15c or 17.65% to 1c while Tumall picked 10% to 3.30c. DZLH gained 0.10c or 1.25% to 8.10c.

Bankers CBZ dosed sellers only at 15c ahead of its AGM this afternoon.

Star Africa was the top faller, shedding 0.15c or 17.65% to 0.70c while ZHL dropped 0.10c or 10% to 0.90c. FML and Meikles eased 7.14% and 5.26% each to 6.50c and 18c respectively.

The other counter to trade in the negative was FBC which recorded a 0.78% decrease of 0.10c to 12.70c.

The Datvest All Share Index closed today's session 0.86% up at 118.37 but is down 0.70% on the March 31 level of 119.20.

The blue chips measure the FBC ZSE-10 Index also advanced 1.46 points or 1.19% to 124.15 while it is also 0.86% down on the March 31 level of 125.23.

All the indices on the Zfn board remain in the red this year to date with the Minings Index leading the pack having lost 35.23% since January followed by the Insurance Index which is down 27.67% while the Agri-Industrial Index is 3rd with a 22.21 % drop in the year.

- zfn

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